Pedagogy Test 70

Total Questions: 30

1 - The real accounts are accounts of assets liabilities and...........

A ) Expenses
B ) Revenue
C ) Capital ✅
D ) Drawing

2 - Building account is classified as

A ) Nominal
B ) Real ✅
C ) Cash
D ) Capital

4 - Which of the following is not a nominal account?

A ) Capital
B ) Insurance
C ) Sales
D ) Machinery ✅

5 - Which of the following should not be deducted from gross income at source?

A ) Income tax
B ) Value added tax ✅
C ) National insurance contributions
D ) Pension contributions

6 - Which of the following would not be entered into the purchases day book?

A ) Stock purchases on credit
B ) Goods bought for resale but not paid for
C ) Credit purchases
D ) Goods bought for resale for cash ✅

8 - All transaction should be entered in which register

A ) Fee
B ) Cash ✅
C ) Funds
D ) With drawl

9 - Which of the following accounts is a liability account?

A ) Accounts payable ✅
B ) Equipment
C ) Cash
D ) Owner's Equity

10 - Transaction are initially recorded in the?

A ) Ledger
B ) Subsidiary ledger
C ) Journal ✅
D ) Trial balance

11 - The increase in owners equity resulting from profitable business operation is called?

A ) Net income ✅
B ) Gross Revenue
C ) Net assets
D ) Net loss

13 - ................... Are creditors claims to the property (assets of a business).

A ) Partnership
B ) Owners equity
C ) Assets
D ) Liabilities ✅

15 - Which financial statement does not cover a period of time?

A ) Income statement
B ) Balance sheet ✅
C ) Statement of cash flows
D ) Capital statement

16 - The record of lab equipments is entered in which register?

A ) Furniture stock register
B ) Library stock register
C ) Lab equipment stock registers ✅
D ) Register of permanent articles

17 - Which of the following voucher is used to record transactions that do not affect bank and cash?

A ) Journal voucher
B ) Receipt voucher
C ) Payment voucher
D ) Nominal voucher ✅

18 - Cash book is a part of

A ) Voucher
B ) General journal
C ) General ledger ✅
D ) Trial balance

19 - General journal is a book of

A ) First
B ) Original ✅
C ) Secondary
D ) Generic

20 - The process of recording transactions in different journals is called

A ) Posting
B ) Entry making
C ) Adjusting
D ) Journalizing ✅

22 - The record of library is entered in which register?

A ) Furniture stock register
B ) Library stock register ✅
C ) Lab equipment stock register
D ) Register of permanent articles

23 - The record of old and new furniture is entered in which register?

A ) Furniture stock register ✅
B ) Library stock register
C ) Lab equipment stock register
D ) Register of permanent articles

24 - The fiscal planning ,accounting, income and expenditure is:-

A ) Budgeting ✅
B ) Evaluation
C ) Demonstration
D ) Decumentation

25 - There are.................. stages of long term school planning

A ) 4 stages
B ) 5 stages
C ) 6 stages
D ) 7 stages ✅

26 - PESRP stands for

A ) Punjab education sector regular program
B ) Punjab education services reform program
C ) Punjab education sector reform programme ✅
D ) Punjab education sector reform planning

27 - BM stands for

A ) Budget money
B ) Budget monitoring
C ) Budget materials
D ) Budget manual ✅

28 - How funds in a given period will be obtained and spent is

A ) Allocation
B ) Expenditure
C ) Budget ✅
D ) Receipt

29 - The difference between..................... and actual is called variance

A ) Production ✅
B ) Budget
C ) Contribution
D ) Sales

30 - A plan expressed in financial terms may also be known as a:

A ) Balanced scorecard
B ) Forecast
C ) Final account
D ) Budget ✅